The end of Corporate Social Responsibility?

Professor Peter Shergold, Macquarie Group Foundation Chair, Centre for Social Impact, directs a collaboration in Australia that examines the current state of the social economy - including the effect of the recession on non-profit organizations, philanthropy, and corporate social responsibility. Shergold points out that the global financial crisis puts a strain on resources when demand for donations and giving is at its highest. He says that while some detractors think this signals the end of CSR, others believe now more than ever businesses have the opportunity to boost their reputation by remaining firmly committed to a responsibility and sustainability platform. Shergold is cautiously optimistic about the future of CSR, he believes consumers are looking for companies with transparent, sustainable, and reputable business practices; and that embedding these values internally and externally will create shareholder and social value.